Oncotelic Therapeutics Inc (OTLC)

[Penny Stocks 2.0]

$OTLC .13 HUGE MULTI BILLION $$ IPO NEWS >> ONCOTELIC AND GOLDEN MOUNTAIN PARTNERS FORMING A JOINT VENTURE FOR IPO
Press Release | 08/16/2021
AGOURA HILLS, Calif., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Oncotelic Therapeutics, Inc. ("Oncotelic" or the "Company") (OTCQB:OTLC), a leading developer of TGF-ß therapeutics for oncology and COVID-19 and Golden Mountain Partners, (“GMP”) announced that they are forming a joint venture (“JV”) to advance clinical development of Oncotelic’s pharmaceutical pipeline and build out of manufacturing facilities for the commercial launch of Oncotelic’s drug candidates. The JV is expected to be taken to an initial public offering (“IPO”). Recent IPOs for TGF- ß assets include Genor Biopharma, Pliant Therapeutics and ScholarRock. The Company and GMP signed a term-sheet, which amongst other requirements, includes moving into a standstill agreement and an immediate infusion of $1.5 Million by GMP into Oncotelic.

"This latest development is a continuation of our relationship with GMP, which started early 2020 when GMP began invested in Oncotelic COVID-19 programs. Being fully capitalized we look forward to rapid progress in bringing needed therapies to patients in both oncology and COVID-19. A robust IPO comparable to similar IPOs would be a strong win for Oncotelic’s shareholders who have been unwavering in their support for finding the cures for these debilitating diseases." said Dr. Vuong Trieu, CEO and Chairman of Oncotelic.

About Oncotelic Therapeutics

Oncotelic Therapeutics, Inc. (f/k/a Mateon Therapeutics, Inc.) ("Oncotelic"), was formed in the State of New York in 1988 as OXiGENE, Inc., was reincorporated in the State of Delaware in 1992, and changed its name to Mateon Therapeutics, Inc. in 2016, and Oncotelic Therapeutics, Inc. in November 2020.

Oncotelic is artificial intelligence driven immuno-oncology company with a robust pipeline of first in class TGF-ß immunotherapies for late stage cancers such as gliomas, pancreatic cancer and melanoma. OT-101, the lead immuno-oncology drug candidate of Oncotelic, is a first-in-class anti-TGF-ß RNA therapeutic that exhibited single agent activity in relapsed/refractory cancer patients. OT-101 also has shown activity against SARS-CoV-2 and has completed a phase 2 trial against COVID-19 with data cleaning and datalock ongoing. Oncotelic is seeking to leverage its deep expertise in oncology drug development to improve treatment outcomes and survival of cancer patients with a special emphasis on rare pediatric cancers. Oncotelic also has rare pediatric designation for DIPG (OT-101), melanoma (CA4P), and AML (OXi 4503). The Company also acquired PointR Data Inc. ("PointR") in November 2019. The PointR Acquisition was intended to create a publicly traded

For more information, please visit www.oncotelic.com and www.mateon.com.